Friday
April 18, 2014

Homework Help: STATISTICS

Posted by DEE-DEE on Friday, April 20, 2007 at 8:11pm.

Can someone please tell me how to solve this problem?
A buyer for a lumber company must determine wheter to buy a piece of land containing 50,000 trees. if 2000 tress are at least 48 feet tall she will purchase the land; otherwise she will not. the owner of the land reports that the distribution of the heights of the trees is normal with the mean of 36 feet ans a standard deviation of 6 feet. based on this information what should the buyer decide?


The mean is 36 feet and standard deviation is 6 feet.
She wants 2000 out of 50,000 trees to be at least 48 feet hight
This is 4%.

48 feet is two standard deviations from the mean.

According to a standard normal distribution table at 2.0 you will find 0.9773 which means that 97.73% of the tress are less than 48 feet tall, leaving only about 2.3% to be taller than 48 feet

No she should not buy.

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Business Law - One of the Directors of a property maintenance company has a ...
Business law - One of the Directors of a property maintenance company has a ...
algebra - In the promotional park your company has budgeted $40,000 for some ...
math, algebra - can someone correct this for me... Problem : Business and ...
math - christy bought an 8-foot piece of lumber to trim a bookshelf. altogether...
Math - A developer can buy a plot of land 90-yd x 50-yd for $15,000 or a plot of...
Microeconomics - The following table indicates the prices various buyers are ...
college/microeconomics - The following table indicates the prices various buyers...
business - On a Corporation's balance sheet, a large tract of company-owned land...
math - 850 douglas fir and ponderosa pine trees in a section of forest bought by...

Search
Members